AAPT ann.re:$150m Syndicated Revolving Cash Advance Facility

AAPT LIMITED 1998-11-30 ASX-SIGNAL-G
HOMEX - Sydney
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AAPT has signed an agreement for a $150M revolving three year cash
advance facility with a syndicate of three banks comprising ANZ
Banking Group Limited, Citibank N.A and The Chase Manhattan Bank. The
facility was arranged by the three participating banks each of whom
are taking an equal share in the facility, with ANZ Banking Group
acting as Agent.
"This facility, which replaces AAPT's existing $60M Bill Facility
with ANZ, will provide additional financing flexibility to the group
particularly for CBD fibre rollout and other infrastructure
investments, as well as continuing investment in fairly priced
acquisitions, as and when opportunities arise," AAPT Chief Financial
Officer, Tony Rogge, said.
Mr Rogge added that the strength of the syndicate members confirms
the support AAPT is receiving from domestic and overseas-based
financial institutions. In view of the recent volatility in financial
markets, AAPT is satisfied with the level and pricing of the
facility.
AAPT listed on the Australian Stock Exchange in November 1997 and its
major shareholders are AAP Communications Holdings, New Zealand's
Todd Corporation and Singapore Telecom.
For further information, please contact:
AAPT Limited
Tony Rogge
Tel 02 9377 7754
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